Nigeria Online Food Delivery Market Overview:
According to the latest report by IMARC Group, titled “Nigeria Online Food Delivery Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the Nigeria online food delivery market is expected to exhibit a CAGR of 13.71% during 2022-2027. Online food delivery refers to the convenient process of ordering and delivering food through different websites or applications. It provides access to single or multiple food joints as per the preferences of the user. It also offers a fast checkout process and different payment options, including cash on delivery (COD), net banking, e-wallet, prepaid cards and food coupons. At present, online food delivery is gaining popularity across Nigeria due to the growing penetration of the internet and the increasing sales of smartphones.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Nigeria Online Food Delivery Market Trends:
Sedentary lifestyles on account of hectic work schedules have resulted in a considerable rise in the demand for ready-to-eat (RTE) food products. This represents one of the key factors propelling the growth of the online food delivery market in Nigeria. Apart from this, it provides numerous advantages, including easy and fast ordering, fewer misunderstandings during communication, secured payment getaways and various cashback offers. This, in confluence with the growing integration of advanced technologies, such as artificial intelligence (AI), the internet of things (IoT), Big Data and predictive analytics with online food delivery platforms for providing a personalized consumer experience, is positively influencing the market growth in the country. Besides this, the coronavirus disease (COVID-19) outbreak has resulted in a significant shift from conventional food joints to online delivery services for minimizing the risk of spreading the disease.
Nigeria Online Food Delivery Market 2022-2027 Analysis and Segmentation:
Competitive Landscape with Key Players:
- Foodie Nigeria
- GoFood (AT&A Retail Limited)
- Jumia Foods
- Ofood (Opay).
Breakup by Platform Type:
- Mobile Applications
Market by Business Model:
- Order Focused Food Delivery System
- Logistics Based Food Delivery System
- Full-Service Food Delivery System
By Payment Mode:
- Cash on Delivery
Breakup by End User:
Market by Region:
- North West
- South West
- North Central
Key highlights of the report:
- Market Performance 2016-2021
- Market Outlook 2022-2027
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Competitive Structure
- Profiles of Key Players
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